China Development Forum kicks off to promote sustainable development

The China Development Forum 2024, a national-level international forum held annually following the "Two Sessions", commenced on Sunday morning in Beijing, with aims to promote dialogue and cooperation between China and the global community on sustainable development.

This year's two-day forum has attracted more than 110 participants, including leaders from the World Bank and the International Monetary Fund (IMF), top corporate executives, and leading scholars. They are gathered to engage in in-depth discussions on the theme of "Continuous Development of China," as announced by the forum organizer on Friday.

In his keynote speech on Sunday morning, Chinese Premier Li Qiang highlighted China's commitment to creating opportunities for global investors through a comprehensive approach involving macroeconomic policy, urbanization, industrial upgrades, and the green transition.

During the forum, Zheng Shanjie, head of the National Development and Reform Commission, stated that China plans to drive equipment upgrades across seven sectors: industry, agriculture, education, transportation, construction, culture and tourism, and healthcare. This initiative is expected to create a market of over five trillion yuan ($700 billion) in scale.

With a comprehensive package of pro-market reforms, China could grow considerably faster than the status quo scenario, IMF managing director Kristalina Georgieva said on Sunday.

The year's agenda spans eight key areas, including carbon neutrality, artificial intelligence, healthcare, and digital transformation, demonstrating the extensive potential for China's future development.

Since its inception in 2000, the forum has become a vital platform for the country's opening up to the world, fostering international cooperation and exchanges.